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作者：Gargano, Antonio; Sotes-Paladino, Juan; Verwijmeren, Patrick
作者单位：University of Houston System; University of Houston; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Melbourne
摘要：We provide evidence that losses constrain short sellers but not the transmission of information to prices. Using unique data on U.S. equity lending, we document a negative impact of the mark-to-market losses of a stock's short sellers, but no impact of their gains, on the future shorting of the stock. Consistent with funding and institutional constraints limiting short selling, we further show that the effect is highly asymmetric across different loss levels and stronger among stocks facing hi...
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作者：Canayaz, Mehmet I.; Cornaggia, Jess; Cornaggia, Kimberly
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We examine the relationship between a firm's successful protest of a government agency's conduct or terms of a procurement contract and the amount of business the firm conducts with the government going forward. We find firms receive fewer and less valuable government contracts, face more contract cancellations, and experience significant reductions in sales growth and employee growth. Despite widespread belief, successful bid protesters do not delay government procurement because of lengthy d...
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作者：Gans, Joshua S.
作者单位：University of Toronto; National Bureau of Economic Research
摘要：This paper robustly concludes that it cannot. A model is constructed under idealized conditions that presume that the risks associated with artificial general intelligence (AGI) are real, that safe AGI products are possible, and that there exist socially minded funders who are interested in funding safe AGI, even if this does not maximize profits. It is demonstrated that a socially minded entity formed by such funders would not be able to minimize harm from AGI that unrestricted products relea...
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作者：Yao, Jiayu; Lin, Mingfeng; Wu, D. J.
作者单位：Nanyang Technological University; University System of Georgia; Georgia Institute of Technology
摘要：Despite the popularity of the phrase wisdom of the crowd, not all crowds are wise because not everyone in them acts in an informed, rational manner. Identifying informative actions, therefore, can help to isolate the truly wise part of a crowd. Motivated by this idea, we evaluate the informational value of investors' bids using data from online, debt-based crowdfunding, in which we were able to track both investment decisions and ultimate repayment statuses for individual loans. We propose sev...
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作者：Guo, Liang
作者单位：City University of Hong Kong
摘要：The supply and the demand for data analytics are growing rapidly. Recent years have seen a surge in the availability of massive consumer data and in the emergence of data sellers (e.g., brokers and intermediaries). Unlike standard products, the value of data analytics for marketers depends on how their business decisions can be enabled and improved. In this paper, we investigate how a monopoly seller can offer a menu of databased service plans to screen heterogenous marketers that can decide w...
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作者：Korgaonkar, Sanket
作者单位：University of Virginia
摘要：This paper offers a novel framework to quantify the expected gains from renegotiating delinquent loans. The framework accounts for important trade-offs between concessions to borrowers, postdelinquency loan performance, and expected collateral values. The framework's parameters are calibrated using data on renegotiated 30-year residential fixed-rate mortgages that went delinquent during the Great Recession. Our model-implied expected gains increase during the 2007-2009 period coinciding with a...
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作者：Arora, Kashish; Gaur, Vishal
作者单位：Chinese University of Hong Kong; Cornell University
摘要：Effective management of a firm's operating cash flow is essential for supporting growth, servicing debt, and maintaining overall financial health. Mismanagement of cash flows can result in severe liquidity challenges and even business failure. However, managing operating cash flow is complex because of its intricate, endogenous relationships with operational variables, like sales, operating costs, inventory, payables, and the impact of exogenous macroeconomic factors on a firm. In this paper, ...
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作者：Burke, Joseph; Sommerfeldt, Ryan D.; Wang, Laura W.
作者单位：Indiana University System; Indiana University Bloomington; Brigham Young University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Many companies now use peer-recognition systems that allow employees to publicly recognize their peers for positive behaviors. Practitioners have touted the potential for these systems to increase helping among employees. However, the extent to which employees actually use these systems to recognize their peers varies across organizations; some are used broadly by many employees across all functional, specialty, geographic, and hierarchical subgroups of the organization, whereas others are onl...
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作者：Forsgren, Mattias; Frimanson, Lars; Juslin, Peter
作者单位：Uppsala University; Uppsala University
摘要：Many social scientists have assumed that people's preferences can be described by stable and coherent utility functions. This notion of stable utility functions has been challenged by cognitive psychologists who suggest that preferences are malleable and constructed in the moment, but neither camp has explained how the subjective valuations underpinning preferences arise. One influential attempt to do so is the Decision by Sampling (DbS) model, which suggests that a quantitative attribute's (e...
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作者：Zhang, Jianqiang; Li, Krista J.
作者单位：Jiangnan University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Firms frequently extend their brand by introducing products in new categories and offering free samples or demonstrations for customers to learn about the quality of the new products before purchasing. When introducing new products based on customers' purchase behavior in the former category, firms face two customer segments: their own customers and the competitor's customers. Firms can practice behavior-based pricing (BBP) by charging different prices in the two segments. Moreover, firms can ...
